American Coastal Insurance told analysts on its Q3 earnings call that it has entered a non-binding agreement to sell personal lines subsidiary Interboro Insurance at book value, or approximately $23mn.
The final purchase price will be determined at closing, which is expected to take place in roughly six months.
“We
Enter your e-mail to claim a free trial:
Uncover exclusive insights tailored for insurance leaders
Stay Informed: Access exclusive industry insights
Gain a competitive advantage: Hear first about tactical developments
Make better decisions: Understand market dynamics in crucial lines of business